Iguatemi Set for Equity Funds

Iguatemi Set for Equity Funds

Brazil Equity

Brazilian shopping mall operator Iguatemi is scheduled to hold an equity follow-on today that should raise more than BRL400m ($189m). The issuer plans to sell 16m primary shares, meaning the transaction would raise BRL451m at Monday’s BRL24.48 closing price if a 15% greenshoe is included. The share price has moved very little, up around 2.0%, since announcement in April. Iguatemi expects to spend half the proceeds on greenfield projects, 30% on upgrading existing shopping centers and 20% on acqu

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